TULSA, Oklahoma, May 1 /PRNewswire/ --
PennWell Corporation, a diversified global media and information company, announced today that it has acquired Avionics Expo Limited, a U.K. company which owns and produces Avionics (http://www.avionics-event.com), the leading global conference and exhibition for civil and military aerospace electronics. Financial terms of the sale were not disclosed.
Established in 2003 as an annual event, Avionics has been held in the international hub of Amsterdam for the past four years with the most recent event held March 5-6, 2008 at the Passenger Air Terminal in Amsterdam. Avionics comprises a significant trade exhibition, two-day conference program, workshops, and technology demos serving over 1,400 attendees. The next Avionics will be held March 4-5, 2009 in Amsterdam.
PennWell will manage Avionics from its London office and will retain the show's founder, Adrian Broadbent, as a consultant. Broadbent will assist PennWell in the continued development of this growing conference and exhibition for the global aerospace industry. Gareth Watkins will also remain as the sales manager and joins PennWell as an employee in its London office under the management of Glenn Ensor, PennWell Director of International Events.
According to PennWell President and CEO Robert F. Biolchini, the acquisition of Avionics was compelling because of its 30-50% growth each year during the past few years. "Avionics has become the premier platform for the global aviation industry to learn, network, source new partners, and generally do business. Its unique niche focus has been the reason why the avionics community has adopted it as their annual platform in Europe, rather than the more generic and broader aviation industry events," Biolchini said.
The acquisition of Avionics also expands PennWell's strategic position in this US$8 billion market which it serves with its international magazine, Military & Aerospace Electronics, and its annual U.S.-based conference and exhibition, Military & Aerospace Electronics Forum, most recently held March 11-12, 2008 in San Diego. The magazine and event serve over 40,000 military/aerospace prime contractors, subcontractors and integrators, and manufacturers of finished electronic and software products used by government or industry.
Biolchini added that Avionics is highly strategic because it complements PennWell's magazines, events, and information products serving equipment and technology intensive global industries from its headquarters in Tulsa and several worldwide offices. "Since air travel is expanding globally and nearly 10,000 new commercial aircraft are expected to enter service over the next 10 years, the Avionics show is essential to avionics manufacturers and professionals involved in new cockpit technologies and procedures developed for both civil and military aircraft," he said.
Broadbent said, "The integration of Avionics into the PennWell business with its greater investment potential and existing media products will enable the show to continue to grow but at a far greater rate. I am pleased to be a part of the exciting new stage of development for the event."
About PennWell
PennWell Corporation is a diversified business-to-business media and information company that provides quality content and integrated marketing solutions for the following industries: Oil and gas, electric power, water and wastewater, renewable energy, electronics, semiconductor, contamination control, optoelectronics, fiberoptics, enterprise storage, converting, nanotechnology, fire, emergency services and dental. Founded in 1910, PennWell publishes over 75 print and online magazines and newsletters, conducts 60 conferences and exhibitions on six continents, and has an extensive offering of books, maps, web sites, research and database services. In addition to PennWell's headquarters in Tulsa, Oklahoma, the Company has major offices in Nashua, New Hampshire; Houston, Texas; London, England; Mountain View, California; Fairlawn, New Jersey, Moscow, Russia, and Hong Kong, China.
Contact: Jayne Gilsinger +1-918-832-9303, jayneg@pennwell.com
Jayne Gilsinger of PennWell, +1-918-832-9303, jayneg@pennwell.com. Photo: http://www.newscom.com/cgi-bin/prnh/20030618/PENNWELLLOGO, AP Archive: http://photoarchive.ap.org, PRN Photo Desk photodesk@prnewswire.com
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